Saying Sorry Really Does Cost Nothing

Wednesday, September 23, 2009 - 12:35 in Mathematics & Economics

Economists have finally proved what most of us have suspected for a long time – when it comes to apologising, talk is cheap. According to new research, firms that simply say sorry to disgruntled customers fare better than those that offer financial compensation. The ploy works even though the recipient of the apology seldom gets it from the person who made it necessary in the first place.

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